Word: below-market
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...longest-term bonds issued this week were priced to yield 4.02 percent over 24 years, or 0.3 percent lower than the benchmark for securities of similar quality. The below-market yield means that Harvard will pay investors less interest than average on its tax-exempt debt, but the exact savings to the University were not available this week...
...executives said they considered the below-market rates on Harvard’s latest debt issuance unusual but not surprising, in part due to the University’s strong brand name...
...strategic Mass. Ave. location last summer, benefitted from financial incentives offered by Harvard University. The university owns the real estate JP Licks currently occupies, and it essentially invited the franchise in, offering the popular Boston-area chain preferential access to the space and a lease at a below-market rate. To some, such incentives smack of the sort of anti-competitive practices that have no place in a free-market system...
...past let ethical errors derail their chairmanships. Lately, Rangel has been seen to have stumbled as well. He has become the focus of several ethics scandals over matters ranging from the relatively petty to the potentially serious. Last summer, it was revealed that Rangel was occupying four apartments at below-market rents in a Harlem building owned by a prominent real estate developer. (He has since given up one apartment that he used as an office.) In September, he admitted he had neglected to pay some taxes by failing to report $75,000 in rental income earned from a beachfront...
...India's modern cities have for years lived in neighborhoods composed on clearly discernible occupational lines - doctors, town planners, academics, journalists, lawyers, government bureaucrats and diplomats all living among their own. Most such neighborhoods have their roots in a decades-old government housing program that sells public land at below-market prices to cooperative societies, many of which are based on their members' occupation...